For Friday, 4553.75 can contain intraday strength, 4515.75 in reach again intraday and able to contain selling through next week, above which 4685.75 longer-term resistance remains in reach over the next 2- 3 weeks. Closing today below 4515.75 signals 4424.50 by the end of next week, where the market can bottom out through August activity and a meaningful downside continuation point over the same time horizon. Upside Friday, pushing/opening above 4553.75 allows 4617.25, able to contain daily buying pressures and the level to settle above for then indicating 4665.25 on Monday, now considered the start of a wide zone of midterm resistance up to 4685.75 able to contain buying into September activity and a significant upside continuation region into later year.
Anthony Speciale, founder of Speciale Analysis offers an affordable approach for all traders to grow into their highest potential.